Comments on: A roast of Gray Davis. No, really.http://www.ibabuzz.com/politics/2012/08/01/a-roast-of-gray-davis-no-really/
Politics in the Bay Area and beyondWed, 03 Jan 2018 18:55:00 +0000hourly1https://wordpress.org/?v=4.8.5By: GV Hastehttp://www.ibabuzz.com/politics/2012/08/01/a-roast-of-gray-davis-no-really/comment-page-1/#comment-85882
Wed, 01 Aug 2012 20:06:53 +0000http://www.ibabuzz.com/politics/?p=20556#comment-85882Before we was nostalgic about Grey Davis, let us not forget that during his short reign, state spending jumped 35% in three short years. In fact, after adjusting for inflation and growth in population, the true real growth was still 25% in those 3 years.
That set California budgets on a course that they never recovered from.

Also, during his term, the huge changes in pension laws took place. Those changes allowed the gigantic pension hikes that took place from 2001 thru 2006.
All of them “retroactive” and locked into the future for most current employees.
Govenments, state, county, and most cities gave massive increase in pensions due to the change Grey Davis signed into law.

Oakland for example jacked up pensions by a whopping and instant 35%… and worst of all included all prior years of service.
This effectively gave huge “golden parachutes” to thousands of city workers.
The retired Ms Edgerly for example will end up collected a “extra” million dollars due to this increase. Main stream lower level employees will gain from $200,000 to $600,000 extra from the pension system.
Never mind it is underfunded.

And it won’t end there, or now. Employees hired even in 2009 will continue at these jacked up rates until they retire in 2040. The gift that keeps on taking.

These seemingly simple pension changes during the Davis administration, in Oakland alone, will end up costing the city over hundreds of millions of dollars as they unfold. All money Oakland does not have.